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mortgage brokers west wales

chriz1
chriz1 Posts: 335 Forumite
Part of the Furniture 100 Posts Name Dropper Combo Breaker
in Mortgages & endowments
Hi does anyone know of a decent mortgage broker in the West Wales area please,
I am looking for someone who can reduce my monthly repayments before next febuary when it goes up another £150:cry:

Comments

  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    Have you seen what your current lender can offer?

    What LTV would you be looking at? (property value and mortgage value)
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • chriz1
    chriz1 Posts: 335 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    property value is around £120,00 and mortgage is £126,00 if i remeber,at the mo that is intrest only and next febuary it goes onto repayment and intrest,and the rise is just too much for us really,so i need to switch,
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    If you are in negative equity your only option is staying with your current lender, or pay in a lump sum big enough to get a decent rate.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • chriz1
    chriz1 Posts: 335 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Is it not possbile to increase the mortgage term from 25 years to say 35 im only 25 so have plenty of time to pay it off,
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    If your current lender allows you to then yes.

    But you cannot move lender.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • chriz1
    chriz1 Posts: 335 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    why can i not move lender?
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    chriz1 wrote: »
    property value is around £120,00 and mortgage is £126,00


    Because your mortgage is greater than the value of the property
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • chriz1
    chriz1 Posts: 335 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Hmm im going to have to take some advice on this i think,anyone know or a decent broker
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    chriz1 wrote: »
    Hmm im going to have to take some advice on this i think,anyone know or a decent broker


    Sounds like a good idea.

    And when you find a lender who will offer you a mortgage while you are in negative equity, be sure to post on here, as it will help a lot of people.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • chriz1
    chriz1 Posts: 335 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    yeah ok will do
This discussion has been closed.
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